When to refinance your property with a private loan

by iborrow
When to refinance your property with a private loan

Managing the refinance process for commercial loans can be tricky. And the purposes of your refinance could be any of a number of things. Maybe you need a quick loan – in just a couple of weeks. Maybe you are looking to pay off an existing mortgage on your commercial property or maybe you are trying to obtain a lower rate or longer term. Maybe you’d like to pay off a maturing loan. You may even want to leverage your equity to make improvements or cover business expenses.

Whatever the reason, there are often many variables that must be carefully orchestrated by owners and managers to ensure everything lines up with the financing and closing process. When everything is running smoothly, working with a typical lender is a viable option worth exploring. However, it is not uncommon to have your finance team walk into your office and inform you — “Houston, we have a problem.”

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Many borrowers find that terms, restrictions, and covenants in place with other lenders don’t align well with the particulars of their property. There are several situations that although fairly common in commercial real estate, preclude many borrowers from working with the traditional lenders to solve basic needs. That’s where a flexible and creative lending partner such as iBorrow can help.

For example, many commercial properties have extended loans or other credit facilities to owner/occupants. That additional layer of debt and loan structure can cause issues for many lenders, but that is exactly the kind of deal that a flexible institution like iBorrow can evaluate on a case-by-case basis without an automatic no.


Other situations that can be tricky for traditional lenders include properties that are pre-cash-flow or borrowers with lower credit. Well, a private lender is willing to look at a deal holistically and consider the LTV ratio of the deal as a priority factor.


And what about the case when you might have started the project using an unconventional loan? Will your lender be able to work with you? Did you take a bridge loan somewhere along the way? Or perhaps you’re engaged in a legal matter or have pending litigation. All of these common circumstances in commercial real estate often spook traditional lenders.


What really matters at the end of the day is having valuable collateral and a viable business plan for your property. Whether you are re-financing, re-positioning, renovating or upgrading, a thorough and complete financial analysis of the project along with the current value of the property, should ultimately be the determining factors in the viability and terms of a loan. Even so, many lenders raise obstacles and complicate the process.


If you find yourself frustrated or fed-up with lenders that don’t seem to get your vision or can’t deal with your circumstances, you should look more closely at a private lending solution. Private lenders have the creativity and flexibility to structure loans that are right for your unique circumstances and a deep bench of experienced veterans. And like the Apollo mission team, they can help ensure your loan problems are solved! No ocean splashdown necessary.

by iborrow

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